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Germany: Matthias Mueller named Volkswagen Chief Executive
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25.09.2015
Matthias Mueller was named as the new CEO of Volkswagen AG in Wolfsburg on Friday. This follows the resignation of his predecessor Martin Winterkorn which was announced on Wednesday in light of the emissions scandal. Mueller acknowledged that he takes over at a time of extreme crisis - one which he company has never faced before. "I have respect for that, but I know that it won't be easy," he said. "Personally I will do everything in my power to gain back the trust of our clients, our workers, our partner and investors and the public as a whole. We are taking our responsibilities," the car giant's new boss added. The emissions scandal involving around 11 million vehicles erupted after U.S. car emission tests. Volkswagen has reportedly set aside $7.27 billion (€6.53 billion) to cover potential costs although some experts are estimating that the whole incident could cost the car giant a total of around $18 billion (€16 billion).
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